The Victorian State Budget for 2024/2025 has revealed a new tax measure for land utilised in social and emergency housing. This new land tax exemption aims to clarify existing arrangements, ensuring landowners involved in such housing initiatives are not burdened by excessive land tax obligations.

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Certain retail premises are excluded from the protection and requirements of the Retail Leases Act 2003 (Act), including premises used for the retail provision of services located above the first three floors in a multi-story building (Third Storey Exclusion). A recent VCAT ruling in Aqua Greenland Pty Ltd v Max Therapy School Pty Ltd (Building and Property) [2023] VCAT 449 has considered the Third Story Exclusion.

Not-for-profit organisations and charities registered with the Australian Charities and Not-for-profits Commission (ACNC) often engage in agreements and arrangements with individuals or entities with whom they share pre-established connections or a common interest, particularly when starting out.

A recent VCAT decision has served as an important reminder for those undertaking capital raising for funds investing in real property, including for development.